Question: please help step by step 2) Derek will deposit $2,635.00 per year for 28.00 years into an account that earns 8.00%. The first deposit is

please help step by step
2) Derek will deposit $2,635.00 per year for 28.00 years into an account that earns 8.00%. The first deposit is made next year. How much will be in the account 28.0 years from today?
Answer format: Currency: Round to: 2 decimal places.
3)Derek will deposit $8,112.00 per year for 30.00 years into an account that earns 6.00%, The first deposit is made next year. How much will be in the account 34.00 years from today?
Answer format: Currency: Round to: 2 decimal places.
4)Derek will deposit $1,736.00 per year for 8.00 years into an account that earns 5.00%. The first deposit is made today. How much will be in the account 8.0 years from today? Note that he makes 8.0 total deposits.
Answer format: Currency: Round to: 2 decimal places.
5)Derek will deposit $2,411.00 per year into an account starting today and ending in year 11.00. The account that earns 7.00%. How much will be in the account 11.0 years from today?
Answer format: Currency: Round to: 2 decimal places.
6)Derek has the opportunity to buy a money machine today. The money machine will pay Derek $42,727.00 exactly 16.00 years from today. Assuming that Derek believes the appropriate discount rate is 13.00%, how much is he willing to pay for this money machine?
Answer format: Currency: Round to: 2 decimal places.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Derek will deposit $4, 228.00 per year for 20.00 years into an account that earns 6.00%. The first deposit is made next year. How much will be in the account 37.00 years from today? Submit Answer...

Q:

PLEASE ANSWER ALL THE QUESTIONS #2 Derek will deposit $7,735.00 per year for 25.00 years into an account that earns 6.00%, The first deposit is made next year. He has $14,884.00 in his account today....

Q:

Topic: Marketing Metrics Please round to FOUR decimal places. THANK YOU FOR YOUR TIME! Unawered Answered B Derek wil deposit 55 540.00 per year for 2700 years into an account that cams 6.00% The...

Q:

Derek will deposit 57, 158.00 per year for 19.00 years into an account that earns 700%, The first deposit is made next year. How much will be in the account 33.00 years from today? Submit Answer...

Q:

Derek will deposit $1 209.00 per year for 15.00 years into an account that earns 13.00%. The first deposit is made next year. How much will be in the account 15.0 years from today? Submit Answer...

Q:

23 Derek will deposit $5,437 00 per year for 22.00 years into an account that earns 10.00%, The first deposit is made next year How much will be in the account 40 00 years from today? Submit Answer...

Q:

B Derek will deposit $4,030 00 per year for 20.00 years into an account that earns 15.00%, The first deposit is made next year How much will be in the account 43 00 years from today? Submit Answer...

Q:

Derek will deposit $4, 285.00 per year for 22.00 years into an account that ears 4.00%. The first deposit is made next year. How much will be in the account 37.00 years from today? Submit Answer...

Q:

Derek will deposit $4,639 00 per year for 23.00 years into an account that eams 4.00% The first deposit is made next year. How much will be in the account 35.00 years from today? Submit Answer...

Q:

What is the value today of a money machine that will pay $6,227.00 per year for 28.00 years? Assume the first payment is made today and that there are 28.0 total payments. The interest rate is 6.00%....

Q:

Lacy draws a diamond from a standard deck of 52 cards. Without replacing the first card, she then proceeds to draw a second card and gets a club. Are these events independent? Input Yes or No:...

Q:

A company invested $400,000 in a technology that reduced the overall costs of production by reducing their cost per unit from $2 to $1.85. Later, a manager has an opportunity to outsource production...

Q:

Long-term financing will increase if the firm: Group of answer choices raises new equity capital. issues short-term debt. increases dividends payment. reduces retained earnings

Q:

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Q:

(Appendices) ENDING INVENTORY, COST OF GOODS SOLD, AND GROSS MARGIN. Wilson Company sells a single product. At the beginning of the year, Wilson had 120 units in stock at a cost of $8 each. During...

Q:

(Appendices) SALES RETURNS. Swan and Bloom, Inc., is a wholesaler of novelty items to small stores. All sales are on credit with no discount offered. During March, Swan and Bloom accepted the...

Q:

(Appendices) INTERNAL CONTROL FOR SALES. Alcoa Building Products distributes aluminum siding and related building products to building contractors, all of whom purchase on credit. LO6 REQUIRED: List...